Paxos dey find US Bank Licence to boost Stablecoin compliance
Paxos, wey be stablecoin issuer based for New York, don apply for special-purpose trust bank charter from New York Department of Financial Services to get US banking license. Dis move, wey follow after Circle and Ripple do similar move, na to get FDIC insurance and hold full-reserve deposits for tokens like Binance USD (BUSD) and Pax Dollar (USDP). By becoming regulated bank, Paxos dey try improve compliance with upcoming US stablecoin regulations, make reserve transparency better, and build institutional trust. The application show say big stablecoin issuers dey find regulatory approval more, wey fit increase competition for stablecoin market. Traders suppose watch how e go be, because banking license fit change liquidity dynamics, market confidence, and token valuations.
Bullish
Paxos apply for US trust bank license likely dey good for dia stablecoins because if regulators approve am, e go quicken how institutions go take adopt and trust the coins dem. For short time, tori say dem fit get FDIC-backed charter fit make traders and institutions put more money as dem dey find stablecoins wey safe under regulation. For long run, to operate under regulated bank framework go make reserve holdings clear and comply with US stablecoin rules, which go boost market trust and fit make usage grow. History show say when stablecoin issuers dey engage regulators, e usually lead to better liquidity and stable pegs, supporting positive outlook.